{"id":661263,"date":"2025-02-25T00:00:00","date_gmt":"2025-02-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/housing-ministry-sees-usd-2-5-mn-in-deposits-within-48-hours-of-launching-your-home-in-egypt-initiative\/"},"modified":"2025-02-25T00:00:00","modified_gmt":"2025-02-25T00:00:00","slug":"housing-ministry-sees-usd-2-5-mn-in-deposits-within-48-hours-of-launching-your-home-in-egypt-initiative","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/housing-ministry-sees-usd-2-5-mn-in-deposits-within-48-hours-of-launching-your-home-in-egypt-initiative\/","title":{"rendered":"Housing Ministry sees USD 2.5 mn in deposits within 48 hours of launching Your Home in Egypt initiative"},"content":{"rendered":"

High demand for the Your Home in Egypt initiative: <\/strong>The Housing Ministry received USD 2.5 mn in reservation deposits within 48 hours of opening online reservations<\/a> for the first phase of the Your Home in Egypt initiative, according to a ministry statement<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

FX for real estate:<\/strong> The initiative \u2014 first revealed in December<\/a> \u2014 aims to generate USD 500 mn in revenue from selling 5k residential units to Egyptians abroad. The highest demand came from expats in Saudi Arabia, the UAE, and Bahrain, Housing Minister Sherif El Sherbiny said in a presser on Sunday (watch, runtime: 22:09<\/a>). The project is part of the government\u2019s push to generate USD 2 bn<\/a> from its new real estate export platform this year.<\/p>\n

REFRESHER-<\/strong> The Your Home in Egypt<\/a> initiative provides Egyptians abroad the chance to purchase units priced 3-10% lower than market rates and offers payment plans that extend to 10 years. The initiative spans across 12 developments in the new capital, New Alamein, New Mansoura, 6th of October City, Sheikh Zayed, New Cairo, and other areas. Transfers must be made in USD, and applicants are required to have a foreign bank account that has been active for at least six months.<\/p>\n

Making payments easier: <\/strong>Banque Misr, the New Urban Communities Authority and eFinance have signed a cooperation protocol aimed at facilitating payments and collection processes for the initiative, according to a press release (pdf)<\/a>. <\/p>\n

The details:<\/strong> Buyers can reserve, contract, and pay for units through a new website developed with Banque Misr, the initiative\u2019s exclusive banking partner. Payments will be collected in USD via international bank cards, exchange offices, and SWIFT transfers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The highest level of demand came from Egyptians residing in KSA, UAE, and Bahrain<\/p>\n","protected":false},"author":1,"featured_media":661264,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[72,1719,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam","tag-housing-ministry","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"0dfd8705-c4b8-43db-948a-348eb6258931","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Housing 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Housing Minister Mostafa Madbouly is expected to discuss the ministry\u2019s progress on the projects with World Bank officials at the Spring Meetings on 21-23 April. No details were\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":614262,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/30\/govt-takes-steps-towards-bringing-the-real-estate-for-fx-scheme-to-life\/","url_meta":{"origin":661263,"position":5},"title":"Gov\u2019t takes steps towards bringing the real-estate-for-FX scheme to life","author":"enterpriseam admin","date":"30 January 2024","format":false,"excerpt":"Foreigners enrolling in the initiative will be offered residency- and citizenship-related incentives","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2472.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=661263"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661263\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661264"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661263"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661263"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}